British Ambassador tells WAM UK is largest foreign direct investor in UAE

Philip Parham, Ambassador of the United Kingdom to the UAE, has said that his country and the UAE have a deep, cohesive and dynamic historical relationship that is characterised by innovation and creativity, highlighting that there are more than 120,000 British people living and working in the UAE and enjoying security and safety, in addition to about one million British tourists visiting the UAE every year.

In an interview with the Emirates News Agency, WAM, the ambassador said that the UK is the largest foreign direct investor in the UAE, with 6,000 British companies operating in the UAE in various sectors.

He also highlighted UAE investments in the United Kingdom, especially in the field of wind power generation, which, he said, will be launched in the near future.

This came during a reception held by the British Embassy in the UAE in honour of H.R.H. Prince Andrew, Britain’s Duke of York, on-board RFA Cardigan Bay of the British Navy in Mina Zayed in Abu Dhabi in the presence of a group of British and UAE businessmen.

Prince Andrew is undertaking a working visit to Abu Dhabi this week, as part of the Pitch@Palace UAE initiative, which encourages young entrepreneurs to develop their business plans and present their innovative ideas for implementation on the ground.

The Pitch@Palace UAE initiative works to support and connect businessmen and companies in the early stage of its establishment and potential supporters. The finalists from the UAE will present their ideas to a group of British businessmen.

Mr. Parham said that the visit of H.R.H. Prince Andrew to the UAE is a confirmation of the outstanding political, economic and social relations between the two countries, pointing out that relations between the two countries are getting stronger thanks to the official efforts to strengthen and develop them.

The theme for Pitch@Palace UAE is "Technology Serving Humans", and aims to provide a platform to showcase entrepreneurs, connecting them to UK and international networks with the objective of amplifying their businesses. It also aims to develop links between entrepreneurs from each of the global locations and UK entrepreneurs.